October 12, 2008

Videocon to foray into hydropower

After foraying into the telecommunications and thermal power sectors, Mr Venugopal N Dhoot CMD of Videocon Industries said that it is sewing up plans to enter into hospitality and hydropower and in talks with the Uttarakhand government for various projects.

Mr Dhoot said that "We are certainly interested in the hydropower and hotel sectors and are ready to invest in Uttarakhand."

Videocon has already invested INR 400 crore in a manufacturing plant at Kashipur in Uttarakhand.

As far as hydropower is concerned, Videocon expects to produce nearly 2,000 MW in the first phase of the plan. Already, company officials have held talks with the top state government authorities. It has also held talks with the Uttarakhand Power Corporation Limited for selling the power.

Videocon recently came up with a proposal to set up a thermal power plant in the West Godavari district of Andhra Pradesh.